Do you agree? Money question...


MsJag4Jag

MsJag4Jag

Moderator
Debt is dumb and cash is King? A paid off mortgage is now the status symbol over owning BMW. ---Dave Ramsey
 
Does this work?

1. budget
2. save
3. live on less than we make
4. get out of debt a. pay minimum on largest and attack the smallest until paid...then double up to pay the big ones
5. GIVE (tithe....give to charity or church, but GIVE)
 

Re: Does this work?

Originally posted by Ms. Jag4Jag
1. budget
2. save
3. live on less than we make
4. get out of debt a. pay minimum on largest and attack the smallest until paid...then double up to pay the big ones
5. GIVE (tithe....give to charity or church, but GIVE)
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If people followed this formula, we wouldn't be having the problem we are now. I agree with both of you. Clinton and Greenspan told us the good times wouldn't last forever and to try to save and not spend your whole check as soon as you get it. But people didn't listen, and when the economy slowed down, people were left looking stupid.
 
Dave Ramsey is correct. He has a really good radio show.

The only thing I changed with this formula is #4. I pay the highest interest rate off first versus the lowest amount.

If you follow this formula, in times like these, you get some really great bargains with those suddenly "deeply discounted" blue chips. You are sitting even prettier when they rise again.
 
We as a people really need to get with the program. Too many of us think that a pay raise equals a bigger car or more debt. I used to work at a bank, and it would sicken me to see young Blacks get $2,000-$3,000 tax returns and simply cash them without even thinking about putting some in savings. Then a month later they are crying broke. WTF? If you are paying off debts with it more power to you, but if you are just concerned with getting some new rims or the latest Platinum Fubu outfit, you need to check yourself. We just need to be more responsible with what we do with our money.
 
Originally posted by BILBREW
We as a people really need to get with the program. Too many of us think that a pay raise equals a bigger car or more debt. I used to work at a bank, and it would sicken me to see young Blacks get $2,000-$3,000 tax returns and simply cash them without even thinking about putting some in savings. Then a month later they are crying broke. WTF? If you are paying off debts with it more power to you, but if you are just concerned with getting some new rims or the latest Platinum Fubu outfit, you need to check yourself. We just need to be more responsible with what we do with our money.
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I absolutely agree 100%
 
The key is STOP creating debt, and get out of the debt you are in.

Damn, wish I was a college freshman. I didn't owe nobody ish!!!
 
Yeah, I agree with end debt. But yall know that we as poeple tend to judge folks by what thet have. How many times have you all heard this You got that nice job, you need to get you a new car. :rolleyes: or When you gone get you a house?:rolleyes:
When will black folks learn that they are going have to have something take of them when they get older. That them little ole SSI checks( if we have them when we retire) aint nothing.:rolleyes:
 
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